–Facebook will list shares on Nasdaq, according to people familiar with the matter
–Nasdaq wins listing for coveted deal among social media companies
–Last year, listings and issuer services brought in about $372 million for Nasdaq OMX
By Chris Dieterich, Jacob Bunge and Steven Russolillo, OF DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Nasdaq OMX Group Inc. (NDAQ) has scored the stock-market listing of Facebook Inc., according to people familiar with the matter, winning one of the most-coveted deals among the new crop of Internet companies and jockeying ahead in the race for social-media IPOs.
Securing Facebook’s listing burnishes Nasdaq’s reputation as the favored exchange among high-tech companies. The exchange is home to firms such as Apple Inc. (AAPL) and Google Inc. (GOOG).
Shares in Menlo Park, Calif.-based Facebook will list on the Nasdaq Stock Market, according to the people familiar with the matter. It will trade under the symbol FB, previous filings said. Facebook is preparing its initial public offering for May, according to people familiar with the matter.
Both the Nasdaq and NYSE Euronext’s (NYX) New York Stock Exchange compete fiercely over listings. Last year, the intensity accelerated amid the wave of Internet IPOs from the likes of LinkedIn Inc. (LNKD) and Groupon Inc. (GRPN).
“This is a strong, substantial win for Nasdaq, and no doubt a momentum builder for future listings,” said Richard Repetto, an analyst at Sandler O’Neill & Partners.
Facebook’s offering–which could raise $10 billion–is set to be the biggest Internet IPO since Google’s in 2004…..